Milestone moment

Mumbai, Jan. 15: The BSE Sensex today pierced the 20000-mark after two years amid strong investor sentiments that rose on hopes of interest rate cuts by the RBI and a robust earnings scorecard.

After crossing the 20K-mark twice during the day — the first time since January 6, 2011 — the BSE benchmark index settled lower at 19986.82, gaining 80 points.

The NSE Nifty closed with a gain of 32.55 points, or 0.54 per cent, at 6056.60, after touching a high of 6068.50.

Investors were optimistic with many expecting the rally to continue in the next few days. After a good beginning to the earnings season with Infosys, TCS and Axis Bank posting profits, there are hopes that the third-quarter results will not be as bad as anticipated. The government’s deferral of the controversial GAAR and a fall in inflation numbers yesterday also lifted the mood.

Buying in blue chip stocks such as ITC, Bharti Airtel, ICICI Bank, Tata Motors and ONGC contributed the most to the Sensex rise.